Morning journal and courier., 1887-06-15
Grand stand on the Green.
ANOTHER DERBY HEARING.

ANOTHER DERBY HEARING. MT O. s. Bushnell Tells What the Hous atomic Valley Company Would do if 1t 1 Had the City's Interest i'm the Derby MT. James M. TOWnshend Talks O1 the RapId Transit as a Possible Bid- der for the DerbY-The Tracks to be Leased for Entry to the City and the Western Connection Also Made-In- teresting Opinions Given by Other Citizens.
 It was twenty minutes past eight o'clock last evening when Mayor York entered the general committee room at the City hall and took the presiding officers chair preparatory to calling the much called board of finance to order for the purpose of considering the offer made by the Housatonic Valley company for the eity's interest in the Derby railroad. Shortly after the other members of the board filed in. The spectators seats were rather slimly occupied when Mayor York stated that the proposition of the Housatonio cons pany was before the board.
 Mir. c. s. Bushnell took his seat inside tho railing and told what the Housatonio com pany would do.
 1.-The Housatonic Valley railroad com pany," said he, "was organized for the pur- pose of buying the Derby railroad and ex- tending it to Sandy Hook. I never expected
 to meet in my connection with the company the opposition that have met with from the city I wanted to do legitimate business and save the StariR line to New Haven. Fourteen years ago established with my
 brother the firm of Bushnell & Go. We sue oeeded. The firm is now J. D. Dewell & Co. as any firm in New England.
 But this house will in all probability move to New York if competition is cut off. It was with the view of saving this competition to New Haven that contemplated buying the Derby and extending it. I can't see how you can protect the city without accepting the offer made by us. If Mr. Starbuck can come here and make as good and as honest an offer as we have, why we will step down and out We would make 10 per cent. if we got the Derby, perfectly legitimate and reason able profit, but if MT. Starbuck can make, I say, honest an offer we have, why we will not complain. Starbuck whereby MT. Starin will be fully protected, I'll withdraw. MT. Sta1in should,
 by all manner of means, receive the city's protection. He has been at great expense in establishing his line of boats here and should now be cared for and not frozen out. If our company gets the Derby we'd pro tect MT. Starin the first thing. I wouldn't give the road to the Consolidated for $1 ,000,- 900.
 Councilman Moran-Without the New England owning the Derby wouldn't it fall into the hands of the Consolidated?
 MT. Bushnell-If the New England wouldn't pay s5o,0oo it is possible that improbable. The day we buy for ss5o,0oo, with other stock we have, we would call together meeting. Bonds and stocks would be issued. The new stock would be given to old Derby stock holders. We, citizens of New Haven, would control the stock. I don't think that we'd sell in case the New England didn't want to pay 10 per cent.
 Attorney Driscoll-How long has the Rou- satonic company been organized?
 MT. Bushnell-Four or perhaps five months.
 There being no more queries Mir. Bushnell stated that he would withdraw, hoping the offer would receive favorable consideration from the hands of the committee.
 Mayor York having been called out Alder man Dickerman presided and stated that all persons had an opportunity to be heard either in favor or against any of the three propo- sitions for the Derby.
 Hon. James NJ. Townsend appeared before the committee. He commenced by saying he represented no corporation any person, but as an inhabitant of the town and tax payer of the city he was opposed to the city of New Haven disposing of the Derby rail road stock belonging to the city to any cor poration or individual; that the Derby road is the key to the city of New Haven, which as long as she held it the city was protected from ever being under the control of one railroad; that the interest of the city was to keep the Derby railroad as it is; that there were other corporations which would ere long desire to use the Derby road to come into the city of New Haven; that the New York and Boston Rapid Transit was being organized in New York and would probably ere long be at New Haven, which road would like to utilize the Derby as a spur to get into the city, while the main track would go through the west ern part of the city to Boston, and which road would be willing, probably, to pay such price for the privilege as would pay handsome dividend upon the Derby stock, and at no very great expense to the Derby. The amount the Derby would receive would be clear gain, which, together with the amount which President Sperry said she was already earning, would pay dividend on the stock equal to what the other roads were now paying. MT. Townsend also said that the president of the Rapid Transit com pany was Governor Bodwell of Maine, who would bring the Maine system of railroads to the Rapid Transit. General Stark of New Hampshire, an old railroad man, who had been director in the Northern Pacific and interested in the Concord system. MT. Blodd of Fitchburg, Mass, who is interested in the Old Colony system at Boston, would bring those two systems to the Rapid Tran sit. Ex-Governor Smith of Vermont, president of the Vermont Central rail road and New London and Northern, which is the Vermont system of railroads, and would also connect the Vermont system with the Rapid Transit at Willimantic. These systems would thus be combined and con- meet with the Rapid Transit to New York. The policy of the city of New Haven should Derby stock. If they conclude to sell they ought to offer it to the other stockholders and let them extend the road. Then let the Rapid Transit, the New York and New Eng land, and the Consolidated, if they desire, run over their road and pay the Derby road for so doing, which amount, together with other earnings, would enable the Derby to pay dividend, which would make the Der by stock equal to any other stock in Connec- ticut.
 President Dickerman called for the opinion of any citizen present. MT. N. w. Merwin, the State street feed merchant, said: I have been in business since 1859. When com menced four, grain, etc., was brought by vessel via Albany. The current of trade has changed matters wonderfully. Now goods that are bought by New Haven merchant and sold about the State don't come here at all. The railroads have afforded facilities whereby the goods can be delivered right in the town where sold to the wholesalers cus- toner. Hartford can't get freight any cheaper than New Haven, and look at her competition. That city has three roads rum ming through it-the Connecticut Western, the New York and New England and the Consolidated. don't believe that the mer- chants of this city are discriminated against by any means. The city wouldn't get any more advantage, in my opinion, if we had several roads running here than she has now. think it is fair to say that the road won't be extended unless it is by the Housa- tonic Valley company. If we can only keep it as it is it will undoubtedly develop in- to first-class road. It is doing we'll now and increasing in prosperity. I can't see any reason why it should be sold to any of the three bidders. know some thing about the Rapid Transit road and have been acquainted with some of the doings of the company since it's organization. In tEis com pany are influential and wealthy men. I think they want to use this road. think they will build further out than Hamilton Park, and in that case they would want an entry to the city. I believe the Derby road is to-day worth a million and half of dol lars The only argument for selling is the